I need help only with part b and c please.

Natural Monopoly

(a) What are the characteristics a natural monopoly has that differentiates it from a regular monopoly?

(b) Discuss whether the Cost Bene t Analysis framework is useful as a decision making tool when analyzing regulatory policy tackling a monopoly.

(c) How does the presence of externalities affect the analysis of policies related to increasing competitiveness in monopolistic markets? Discuss.